Russia Threatens with EU Gas Cutoff if Ukraine Siphons Energy

Russia’s President Vladimir Putin said Russia will have to reduce gas supplies to Europe if Ukraine steals gas. Pipelines that supply Europe crosses Ukraine en route.

In June, Moscow halted gas supplies to Ukraine due to mounting debts and pricing disagreements.

Disturbance of Russian gas supplies to Europe has happened two times in the past ten years, in 2006 and 2009. A third of Europe’s gas comes from Russia.
If no agreement is reached between Ukraine and Russia, Ukraine may face energy shortages this winter—further increasing risks to Europe’s gas supply.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza